DekaBank Deutsche Girozentrale Grows Holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY)

DekaBank Deutsche Girozentrale boosted its holdings in Relay Therapeutics, Inc. (NASDAQ:RLAY) by 14.9% in the 4th quarter, Holdings Channel reports. The firm owned 68,937 shares of the company’s stock after purchasing an additional 8,937 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Relay Therapeutics were worth $763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of RLAY. Price T Rowe Associates Inc. MD raised its position in Relay Therapeutics by 52.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,862,960 shares of the company’s stock valued at $113,034,000 after purchasing an additional 2,369,956 shares during the last quarter. Morgan Stanley raised its position in Relay Therapeutics by 592.1% in the 4th quarter. Morgan Stanley now owns 2,369,344 shares of the company’s stock valued at $35,398,000 after purchasing an additional 2,027,003 shares during the last quarter. Norges Bank purchased a new position in Relay Therapeutics during the 4th quarter worth $26,718,000. State Street Corp raised its position in Relay Therapeutics by 46.9% during the 2nd quarter. State Street Corp now owns 4,778,419 shares of the company’s stock worth $80,039,000 after buying an additional 1,524,727 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Relay Therapeutics by 17.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,359,520 shares of the company’s stock worth $187,003,000 after buying an additional 1,261,066 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Down 2.8 %

Shares of RLAY opened at $6.83 on Tuesday. The company has a 50-day simple moving average of $8.84 and a 200-day simple moving average of $8.98. The company has a market capitalization of $895.96 million, a PE ratio of -2.44 and a beta of 1.63. Relay Therapeutics, Inc. has a 52-week low of $5.95 and a 52-week high of $18.32.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.67) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.09. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.43%. During the same period in the prior year, the firm posted ($0.56) earnings per share. On average, research analysts anticipate that Relay Therapeutics, Inc. will post -2.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on RLAY. Stifel Nicolaus upped their price objective on shares of Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Leerink Partnrs restated an “outperform” rating on shares of Relay Therapeutics in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $23.69.

Relay Therapeutics Profile

Relay Therapeutics, Inc operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company's lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.